Tuesday, May 10, 2016

In case you wanted any more proof of the way the markets are decoupled from fundamentals and are dependent (*ahem* coupled) on happenings elsewhere:

Sentiment was supported by lower-than-expected U.S. April non-farm
payroll numbers, as it meant the Fed would take longer time [sic] to raise
interest rates.

That's right, there's bad news on the economic front in the US, so their central bank is going to defer the rate hike, so it's good news for the Indian stock market because it's good news for the American stock market because of the continued maintenance of higher liquidity conditions there. Or, is it that the rate hike deferral means that emerging markets continue to be attractive to overseas investors? I don't know man, by now I don't know whether I'm coming or going.